MRC recognizes the following companies as the key players in the baijiu market in China: Hubei Daohuaxiang Wine Co, Jiangsu Yanghe Distillery, Kweichow Moutai, and Wuliangye Company.
Other Prominent Vendors in the market are: Anhui Kouzi Distillery, Anhui Yingjia Group, Beijing Shunxin Holding Group, Gujing Group, Hubei Baiyunbian, LuzhouLaojiao, Shaanxi Xifeng Liquor Company, Shanxi XinghuaCun Fen Jiu Group, and Sichuan Langjiu Group.
Commenting on the report, an analyst from MRC’s team said: “One trend in the market is growing export of baijiu. One of the positive trends of the baijiu market in China is the increasing export of baijiu to the US and European countries. The increasing demand for baijiu in the US has led to the opening of cafes offering only baijiu drinks in the US. In 2016, the export of baijiu from China increased by about 90% as compared to 2015, which is likely to increase during the forecast period.”
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According to the report, one driver in the market is increasing millennial population in China. The growing millennial population in China is one of the major drivers of the baijiu market in this country. The number of consumers above the age of 18 years is increasing, forming a considerable consumer segment. The growing purchasing power of Chinese millennial population is expected to play a greater role in the growth of the baijiu market during the forecast period. According to the World Bank data, millennials account for more than 30% of the total Chinese population, which is expected to influence the growth of the market during the forecast period.
Further, the report states that one challenge in the market is ban on alcohol in some provinces in China. One of the challenges to the growth of the baijiu market in China is the proposed plan to impose a ban on the sale of alcohol in some of the provinces in China. In July 2017, local government at Dulongjiangtownship in China proposed a plan to implement a ban on the sales of alcoholic drinks in the region. In September 2017, the government in Guizhou Province banned alcohol of any kind at the dinner tables of officials during work time to improve their work style. The ban applies to the party and government departments, judicial organizations, and local state-owned companies.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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